Majid Al Futtaim Properties says expansion will be complete by 2015
RELATED ARTICLES: Nakheel launches tender for Ibn Battuta Mall expansion | Dubai projects serve growing retail demand | December start for Phase II of Doha Marina Mall Dubai’s Mall of the Emirates is undergoing a redevelopment worth $272mn, developer Majid Al Futtaim Properties has announced. Titled ‘Evolution 2015’, the project will provide for more stores, dining and entertainment options at the mall. It is scheduled to be completed by 2015, the developer said in a statement. It declined to furnish further details on financing. Phase one of the redevelopment project commenced in the summer of 2013 and will introduce a fashion district worth $27 million – it is expected to add 30 brands to the existing labels in the mall and will be built across an area of 5,000 square metres. Phase one is expected to be completed by early 2014. “The onset of phase one, which will create a unique fashion and lifestyle destination, will complement our existing luxury and mid-market fashion offer,” said Dimitri Vazelakis, executive managing director – shopping malls at Majid Al Futtaim Properties in the statement. MOE officials said that the expansion was aimed at strengthening the mall’s fashion category. Over 45% of MOE’s 560-plus stores are dedicated to fashion, the statement showed. 44% of the mall’s total sales last year came from the fashion category, they added.